Patricia Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $8

Post by **answerhappygod** » Mon May 30, 2022 7:11 am

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 1 (27.39 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 2 (13.15 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 3 (30.98 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 4 (27.33 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 5 (23.81 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 6 (7.34 KiB) Viewed 30 times

: Patricia Repair Inc Was Started On May 1 A Summary Of May Transactions Is Presented Below 1 Stockholders Invested 8 7 (7.34 KiB) Viewed 30 times

Patricia Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $8,200 cash in the business in exchange for common stock. 2. Purchased equipment for $4,100 cash. 3. Paid $328 cash for May office rent. 4. Paid $246 cash for supplies. 5. Incurred $205 of advertising costs in the Beacon News on account. Performed repair services for customer for $3,854 cash. Paid a $574 cash dividend. Paid part-time employee salaries $820. Paid utility bills $115. Performed repair services worth $902 on account. Collected cash of $98 for services billed in transaction (10). 6. 7. 8. 9. 10. 11.
Prepare a tabular analysis of the transactions. Include margin explanations for any changes in revenues or expenses. Revenue is called Service Revenue. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
1. 2. 3. 4. 5. 6. 7. 8. $ Cash $ Accounts Receivable Assets Supplies H
Equipment Liabilities Accounts Payable [] Common Stock X
Revenues Stockholders' Equity Retained Earnings Expenses DOOR III $ Dividends n 11
From an analysis of the Retained Earnings columns, compute the net income or net loss for May. Net for May $